Cooper Haims Advisors LLC Invests $7.45 Million in Kennametal Inc. (NYSE:KMT)

Cooper Haims Advisors LLC acquired a new position in Kennametal Inc. (NYSE:KMT - Free Report) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 349,928 shares of the industrial products company's stock, valued at approximately $7,453,000. Kennametal accounts for about 4.0% of Cooper Haims Advisors LLC's portfolio, making the stock its 9th largest holding. Cooper Haims Advisors LLC owned about 0.45% of Kennametal at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. Klein Pavlis & Peasley Financial Inc. purchased a new stake in shares of Kennametal in the first quarter valued at approximately $856,000. Jefferies Financial Group Inc. purchased a new stake in shares of Kennametal in the first quarter valued at about $208,000. US Bancorp DE increased its position in Kennametal by 93.4% during the first quarter. US Bancorp DE now owns 2,145 shares of the industrial products company's stock worth $46,000 after purchasing an additional 1,036 shares during the last quarter. Bayforest Capital Ltd purchased a new position in Kennametal during the first quarter worth about $64,000. Finally, XTX Topco Ltd acquired a new position in Kennametal in the 1st quarter valued at about $728,000.

Analyst Ratings Changes

KMT has been the subject of several research analyst reports. Loop Capital reaffirmed a "hold" rating and set a $24.00 target price (up previously from $21.00) on shares of Kennametal in a research note on Wednesday, June 25th. Morgan Stanley boosted their target price on Kennametal from $20.00 to $21.00 and gave the company an "equal weight" rating in a research report on Monday, May 12th. Wall Street Zen upgraded Kennametal from a "hold" rating to a "buy" rating in a research report on Friday, May 16th. Finally, Barclays boosted their price objective on Kennametal from $22.00 to $24.00 and gave the company an "equal weight" rating in a report on Monday, May 12th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $25.40.

Kennametal Stock Down 3.4%

Kennametal stock traded down $0.71 during trading on Thursday, reaching $19.85. 1,805,076 shares of the company's stock were exchanged, compared to its average volume of 1,060,343. The company's 50-day moving average is $23.41 and its two-hundred day moving average is $22.04. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.10 and a current ratio of 2.44. Kennametal Inc. has a 52-week low of $17.30 and a 52-week high of $32.18. The firm has a market cap of $1.51 billion, a price-to-earnings ratio of 14.33, a PEG ratio of 3.39 and a beta of 1.44.

Kennametal (NYSE:KMT - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The industrial products company reported $0.34 earnings per share for the quarter, missing analysts' consensus estimates of $0.40 by ($0.06). The firm had revenue of $516.45 million during the quarter, compared to analysts' expectations of $527.52 million. Kennametal had a net margin of 5.45% and a return on equity of 9.12%. The business's quarterly revenue was down 4.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.49 earnings per share. On average, analysts predict that Kennametal Inc. will post 1.17 earnings per share for the current year.

Kennametal Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 26th. Shareholders of record on Tuesday, August 12th will be given a $0.20 dividend. The ex-dividend date is Tuesday, August 12th. This represents a $0.80 annualized dividend and a yield of 4.0%. Kennametal's dividend payout ratio is 57.55%.

About Kennametal

Kennametal Inc engages in development and application of tungsten carbides, ceramics, and super-hard materials and solutions for use in metal cutting and extreme wear applications to enable customers work against corrosion and high temperatures conditions worldwide. The company operates through two segments, Metal Cutting and Infrastructure.